Stock market today: Dow, S&P 500, Nasdaq surge with Powell speech underway

Shares in Nvidia slid in premarket after the chipmaker reportedly told its suppliers to halt work on production of its China-tailored H20 AI chip.

Nvidia CEO Jensen Huang said Friday that the AI bellwether is in talks with the Trump administration over a potential new semiconductor — the “B30A” — designed for Chinese techs to use.

Nvidia told component suppliers such as Foxconn (2317.TW, HNHPF), Samsung Electronics (SSNLF, 005930.KS), and Amkor Technology (AMKR) to suspend work on the H20, per The Information and Reuters.

Those orders came after Beijing urged Chinese companies to avoid using Nvidia’s AI chip. The move to restrict sales was prompted by what China deemed “insulting” remarks from US commerce secretary Howard Lutnick.

Huang was asked about a possible “B30A” semiconductor for AI data centers for China while on a visit to Taiwan on Friday. The Nvidia CEO was there to meet key partner Taiwan Semiconductor Manufacturing Corp. (TSM), the world’s biggest chip manufacturer.

“I’m offering a new product to China for … AI data centers, the follow-on to H20,” Huang said, according to Reuters.

However, he added: “That’s not our decision to make. It’s up to, of course, the United States government. And we’re in dialogue with them, but it’s too soon to know.”

Nvidia has increasingly found itself having to navigate trade tensions between the US and China amid President Trump’s reshaping of tariff policy.

With the chipmaker set to report second-quarter earnings next week, a key question for Wall Street is whether China will be part of its outlook.

“If NVDA were to include China in its guidance, we believe it would contribute an incremental $2-3 billion in revenue,” KeyBanc Capital Markets analyst John Vinh wrote in a recent note.